Why BioNTech SE (BNTX) Skyrocketed On Monday

We recently published a list of These 10 Stocks Blew Past Expectations. In this article, we are going to take a look at where BioNTech SE (NASDAQ:BNTX) stands against other top-performing stocks on Monday.

BioNTech saw its share prices grow by 18.05 percent on Monday to finish at $113.10 apiece following news that it joined forces with Bristol Myers Squibb for the development of a next-generation cancer immunotherapy for $11.1 billion.

In a statement, BioNTech SE (NASDAQ:BNTX) said it partnered with Bristol Myers to broaden and accelerate the development of BNT327 across numerous solid tumor types.

Bristol Myers will pay BioNTech SE (NASDAQ:BNTX) $1.5 billion in an upfront payment and $2 billion total in non-contingent anniversary payments through 2028.

Additionally, BioNTech SE (NASDAQ:BNTX) will be eligible to receive up to $7.6 billion in additional development, regulatory, and commercial milestones.

The two companies will share joint development and manufacturing costs on a 50:50 basis, subject to certain exceptions, and equally share global profits or losses.

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Disclosure: None. This article is originally published at Insider Monkey.